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Economy, not the pandemic, top influencing issue for Canadian voters: Nanos survey – CTV News

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OTTAWA —
Should Prime Minister Justin Trudeau call an election this summer, the issue that will have the most influence in the minds of voters will be the economy, according to a new survey by Nanos Research.

More than 28 per cent of those surveyed said that the economy would be most important policy issue that will sway their vote in a potential election, outranking the environment and the ongoing COVID-19 pandemic.

The survey, commissioned by CTV News, indicated that the second-ranking issue on the voters’ minds was the environment, with 17 per cent of respondents putting it as their top concern.

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As for other top-ranking issues: 16 per cent said the federal deficit will sway their vote and 13 per cent said health care would be their main motivating issue. The pandemic came in fifth in voters’ minds, with just 10 per cent of respondents indicating that the fight against COVID-19 still ranks atop their policy priorities.

Following behind these issues were reconciliation with Indigenous people, which seven per cent of respondents said was their top influencing file, and the desire for a new government, which was the top issue for two per cent of those surveyed.

“It looks like Canadians are starting to pivot away from the pandemic,” said Nanos Research’s Nik Nanos in an interview on CTV News Channel Wednesday. “And during the next election, they’re going to want to hear about the economy and jobs. They’re going to want to hear about the environment, about the deficit, about health care.”

Canadians who live in the Prairies felt the most strongly about the importance of the economy and political parties’ handling of finances, while those in British Columbia felt that the environment ranked supreme.

The influence of the pandemic was noted the most strongly in Ontario, while Atlantic Canadian respondents mentioned health care and reconciliation more often when the responses are broken down by region.

Over the course of the pandemic, Canadians experienced both a health and an economic crisis, with lockdowns and public health restrictions leading to business shutdowns and job losses.

While the economy largely appears to be rebounding as society continues to reopen with increasing vaccination rates, the country is in a deep deficit, brought on by the federal government’s deployment of mass-scale economic aid programs aimed at keeping Canadians and businesses afloat during the pandemic. These included the now-ended Canada Emergency Response Benefit (CERB) and the ongoing wage and rent subsidies, which are in place until Sept. 25.

Throughout the COVID-19 fight, the opposition parties have been critical of the government’s economic measures, with the Conservatives raising concerns about the ballooning deficit, while the New Democrats pushed for the aid programs to be extended or expanded further.

Trudeau and Deputy Prime Minister and Finance Minister Chrystia Freeland continue to defend their multi-billion dollar economic stimulus approach, with cabinet ministers out making numerous spending announcements touting aspects of the budget since it passed when Parliament adjourned for the summer. 

TRUDEAU GEARING UP FOR VOTE?

In overall national polling, Nanos’s latest polling data shows the Liberals at 38.1 per cent, the Conservatives at 23.6 per cent, and the NDP at 20.4 per cent support.

Nanos said the Liberals are experiencing a “vaccination halo,” as a result of Canadians feeling a sense of relief as more and more are experiencing a two-dose summer, which he connects to the fewer number of those surveyed who listed the pandemic as a top worry.

In Ottawa, the speculation of an August or September election call is intensifying and Trudeau’s ongoing post-second dose travels across the country are fuelling anticipation, as he continues to dodge questions about whether Canadians should expect to go to the polls soon. Conservative Leader Erin O’Toole and NDP Leader Jagmeet Singh are also starting to ramp-up their travel for announcements and events. 

“If the prime minister is out there talking like he’s campaigning, and travelling like he’s campaigning, and now he and his ministers are spending like they’re campaigning, [it’s a] pretty good bet the lawn signs can’t be far off,” said strategic communications consultant and principal at Earnscliffe, Greg Weston in an interview with CTV News.

Weston added that while politicians trying to sway voters with their own money is a practice “as old as democracy itself,” the federal government has a case to make about going to the polls if it’s a question of who should have the mandate to govern the country through the post-pandemic recovery.

Should the much-speculated campaign kick off, this survey indicates that voters’ minds may be more attuned to what’s ahead and the economic rebuilding that’ll be needed, as well as the looming climate emergency, rather than looking back on how the Liberals handled the pandemic or how parties propose to better prepare for the next one.

“Canadians want to hear about what’s going to happen in the future…. it provides an opportunity for the Conservatives and the New Democrats to start talking about other issues like the economy and jobs,” Nanos said.

METHODOLOGY:

Nanos conducted an RDD dual frame (land-and cell-lines) hybrid telephone and online random survey of 1,051 Canadians, 18 years of age or older, between June 30th and July 5th, 2021 as part of an omnibus survey.

Participants were randomly recruited by telephone using live agents and administered a survey online. The sample included both land-and cell-lines across Canada. The results were statistically checked and weighted by age and gender using the latest census information and the sample is geographically stratified to be representative of Canada.

Individuals were randomly called using random digit dialling with a maximum of five call backs.

The margin of error for this survey is ±3.1 percentage points, 19 times out of 20.

This study was commissioned by CTV News and the research was conducted by Nanos Research.

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Poland has EU's second highest emissions in relation to size of economy – Notes From Poland

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Poland has EU’s second highest emissions in relation to size of economy  Notes From Poland

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IMF's Georgieva warns "there's plenty to worry about'' in world economy — including inflation, debt – Yahoo Canada Finance

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WASHINGTON (AP) — The head of the International Monetary Fund said Thursday that the world economy has proven surprisingly resilient in the face of higher interest rates and the shock of war in Ukraine and Gaza, but “there is plenty to worry about,” including stubborn inflation and rising levels of government debt.

Inflation is down but not gone,” Kristalina Georgieva told reporters at the spring meeting of the IMF and its sister organization, the World Bank. In the United States, she said, “the flipside” of unexpectedly strong economic growth is that it ”taking longer than expected” to bring inflation down.

Georgieva also warned that government debts are growing around the world. Last year, they ticked up to 93% of global economic output — up from 84% in 2019 before the response to the COVID-19 pandemic pushed governments to spend more to provide healthcare and economic assistance. She urged countries to more efficiently collect taxes and spend public money. “In a world where the crises keep coming, countries must urgently build fiscal resilience to be prepared for the next shock,” she said.

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On Tuesday, the IMF said it expects to the global economy to grow 3.2% this year, a modest upgrade from the forecast it made in January and unchanged from 2023. It also expects a third straight year of 3.2% growth in 2025.

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The world economy has proven unexpectedly sturdy, but it remains weak by historical standards: Global growth averaged 3.8% from 2000 to 2019.

One reason for sluggish global growth, Georgieva said, is disappointing improvement in productivity. She said that countries had not found ways to most efficiently match workers and technology and that years of low interest rates — that only ended after inflation picked up in 2021 — had allowed “firms that were not competitive to stay afloat.”

She also cited in many countries an aging “labor force that doesn’t bring the dynamism” needed for faster economic growth.

The United States has been an exception to the weak productivity gains over the past year. Compared to Europe, Georgieva said, America makes it easier for businesses to bring innovations to the marketplace and has lower energy costs.

She said countries could help their economies by slashing bureaucratic red tape and getting more women into the job market.

Paul Wiseman, The Associated Press

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Nigeria’s Economy, Once Africa’s Biggest, Slips to Fourth Place – BNN Bloomberg

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(Bloomberg) — Nigeria’s economy, which ranked as Africa’s largest in 2022, is set to slip to fourth place this year and Egypt, which held the top position in 2023, is projected to fall to second behind South Africa after a series of currency devaluations, International Monetary Fund forecasts show.

The IMF’s World Economic Outlook estimates Nigeria’s gross domestic product at $253 billion based on current prices this year, lagging energy-rich Algeria at $267 billion, Egypt at $348 billion and South Africa at $373 billion. 

Africa’s most industrialized nation will remain the continent’s largest economy until Egypt reclaims the mantle in 2027, while Nigeria is expected to remain in fourth place for years to come, the data released this week shows.   

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Nigeria and Egypt’s fortunes have dimmed as they deal with high inflation and a plunge in their currencies.

Bola Tinubu has announced significant policy reforms since he became Nigeria’s president at the end of May 2023, including allowing the currency to float more freely, scrapping costly energy and gasoline subsidies and taking steps to address dollar shortages. Despite a recent rebound, the naira is still 50% weaker against the greenback than what it was prior to him taking office after two currency devaluations.

Read More: Why Nigeria’s Currency Rebounded and What It Means: QuickTake

Egypt, one of the emerging world’s most-indebted countries and the IMF’s second-biggest borrower after Argentina, has also allowed its currency to float, triggering an almost 40% plunge in the pound’s value against the dollar last month to attract investment.

The IMF had been calling for a flexible currency regime for many months and the multilateral lender rewarded Egypt’s government by almost tripling the size of a loan program first approved in 2022 to $8 billion. This was a catalyst for a further influx of around $14 billion in financial support from the European Union and the World Bank. 

Read More: Egypt Avoided an Economic Meltdown. What Next?: QuickTake

Unlike Nigeria’s naira and Egypt’s pound, the value of South Africa’s rand has long been set in the financial markets and it has lost about 4% of its value against the dollar this year. Its economy is expected to benefit from improvements to its energy supply and plans to tackle logistic bottlenecks.

Algeria, an OPEC+ member has been benefiting from high oil and gas prices caused first by Russia’s invasion of Ukraine and now tensions in the Middle East. It stepped in to ease some of Europe’s gas woes after Russia curtailed supplies amid its war in Ukraine. 

©2024 Bloomberg L.P.

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